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Trump increases tariffs on imported steel and aluminum products


Despite unanimous opposition from allies, congressional allies, and the business community, US President Trump said on Thursday that he would impose tariffs of 25% and 10% on steel and aluminum products imported from the United States.
Trump's move is mainly to protect the US CarID Coupons domestic steel industry from global overcapacity and price pressures, while steel prices have been depressed, and experts are targeting the Chinese industrial policy.
According to the latest news, Trump officially signed an administrative order on March 8 local time, and will impose tariffs of 25% and 10% on steel and aluminum imported from the United States 15 days later. Among specific plans, Canada and Mexico are granted temporary immunity.
Policy, Trump U.S. tariff, U.S. steel import tariff, U.S. car import
Trump also said that other countries may apply for immunity from the United States based on their contribution to US national security and to NATO and other cooperative organizations.
In a televised speech, Trump said: "If we can achieve the same purpose through other channels, the United States will be open to change orders, but only if we can ensure that the products of this country no longer threaten the United States. In the case of national security, we can exempt a country from customs duties.” Robert Lighthizer, a US business negotiator, will be responsible for negotiating with countries that need immunity.
The response of the automotive industry
The auto industry once again warned that the imposition of tariffs will have an adverse effect on U.S. economic growth, employment and income.
John Bozzella, chairman of the Global Automobile Manufacturers Association, said: "Tariffs are a type of tax that will cause prices to rise and ultimately be paid by consumers. Exemptions do not solve the fundamental problems that tariffs pose to the production of cars and trucks in the United States. The increase in costs will make our industry less competitive, and workers, consumers and the economy in the United States will be adversely affected."
Charlie Chesbrough, senior economist at Cox Automotiv, said on Thursday that the tariff plan seemed to lack a clear and long-term development direction in the trade strategy, and also brought "big trouble" to the auto industry.
Tars tariffs on steel and aluminum products, Chesbrough said that rising raw material prices will increase the cost of the entire industry chain. Market demand has reached a high level, and the cost of growth is likely to eventually be transferred to automotive consumers.
He also reminded suppliers that they could bear the cost of growth by reducing their own costs, but said that no matter what kind of results will not be conducive to the development of the industry.
More than 90% of the steel used in GM's production in the United States is purchased from U.S. suppliers, but it said on Thursday that it is fortunate that Canada and Mexico can obtain temporary immunity.
GM said: “In the short term, tariffs will have less impact on us, but once the US steel prices rise, we will suffer. Considering that most of our cooperation is long-term cooperation, we do not want to receive any raw materials. The impact of coming."
GM also expressed its hope that the long-term negative impact brought about by the imposing of tariff collection will be minimized. The company added: "We have the ability to adjust and adapt to the many changes in the global market. We will also use this method to deal with this issue."
Ford also predicted last week that tariff levies would lead to an increase in the prices of domestic U.S. goods, resulting in a decline in U.S. production competitiveness. Ford also said that most of the steel used in the United States is produced in the United States.
The United States International Automobile Dealers Association, which was established to promote free trade, also said last week that light car prices may rise significantly. The organization also warned that retaliatory tariff policies in other countries will also increase the prices of other U.S. goods.
Hyundai Motors stated last week that it will measure its car production in the United States, and Hyundai has also joined the ranks of the world's largest car makers, jointly openly opposing Trump's tariffs on steel and aluminum products.
Honda Motors said on Thursday that most of its steel and aluminum products are purchased from US suppliers. The company said: "However, history has proven that levying tariffs on imported steel will lead to rising prices of domestic and imported raw materials in the United States, and this will bring financial burden to consumers."
Retaliatory threat
Other countries also threatened to retaliate and the situation became tense. On Thursday, Chinese Foreign Minister Wang Yi said: "Everybody is concerned about trade frictions between China and the United States. Historical experience has proven that Car Coupons fighting trade wars has never been the right way to solve problems. Especially with today's globalization, choosing trade wars is the wrong prescription. Even if it harms people and harms others, China will certainly make a proper and necessary response. As the world's first and second largest economies, China and the United States are responsible for both peoples and the people of the world, and they hope that both sides can We will find a mutually beneficial and win-win solution through equal dialogue."
Trump also stated that the U.S. authorities are also considering implementing a reciprocal policy or levying the same level of tariffs on the U.S. tariffs based on the percentage of tariffs that American products are exported to other countries.
09 марта 2018 12:03


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